Citi loans directors to Obama

November 17, 2008

Obama and RubinIf you thought being a Citigroup director is tough in these times, imagine what it would be like to be a Citi director and an advisor to President-elect Barack Obama’s transition team.

Three of Citi’s 15 directors — Time Warner Chairman Richard Parsons, Xerox CEO Anne Mulcahy, and former Treasury Secretary Robert Rubin – are also members of Obama’s transition economic advisory board.

It’s hard to say which is more difficult: Helping Obama figure out how to bring the economy out of its worst crisis since the Great Depression or overseeing the No. 2 U.S. bank as it combats mounting debt losses and sagging economies worldwide. As if that were not enough, Parsons and Mulcahy also have their own not-so-small companies to look after.

Either these directors are very good at delegating, or like Citi, they never sleep.

(Photo credit: Carlos Barria, Reuters)

4 comments so far | RSS Comments RSS

Or a major conflict of interest

Posted by John Smith | Report as abusive

we are a young american family with two children and a high mortgage-2400.00 plus living expenses-i just finished graduate school which i payed for myself and my wife is finishing nursing school-we have almost lost our home twice because of the the unfair mortage we recieved from chase bank three years ago-it was infairly modified three months ago with out lowering our payment and adding out overdue past balances onto our priciples-this is what the government should be preventing with congress
we al deserve a low interest mortgage we can afford-it is an american right-there would be know banks without the american tax payer. enough-michael connell

Posted by michael connell | Report as abusive

actually they are rather uncontroversially the worst board in the history of capitalism. Needless to say their own companies are in a complete mess with moronic parsons having led the most value destructive merger ever with aoltw.

Posted by tb | Report as abusive

Somebody Please protect us when it comes to the fools and bail outs it is getting out of hand and We end up paying the bill.

Unlike banks and the big three I meet my obligations on time and within budget for 10 years now.
If you can’t protect us can you get my family a bailout – we only owe 1st mortgage on our house and would need tiny tiny amount of $136,000.00 in return we promise not send kids to college as it would break our balance budget we promise to keep our used cars one of which has 278,000 miles on it, we promise stop using our credit cards but continue to pay them off ( we owe less than $3000.00) on time as we have for almost ten years now.

If you can see to getting us a bail out we solemnly swear on the Bible that we will spend more (CASH ONLY) on Retail and big ticket items ( no cars) that would help boost the economy and add more drooled over tax coffer receipts needed for earmarks and additional bail outs.

If you cant do that either – then don’t worry as one of many employers of all politicians we will make sure to re – evaluate performance reviews and resumes of all names posted to any up coming ballots.

Thank you for helping us and understanding our frustrations with dismal performance of our past present and future leaders


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